A recently formed company. In modern terminology, it has come to describe a company formed with a business model relying on the internet.

Johnny Asshat: "I live in San Francisco, I think I'm going to wake up tomorrow and create a startup selling downloadable toast over the internet. It'll be free, but you'll have to pay for the jam which is where I'll make my money. Aren't I quirky and special?"

Startups" AKA the New Hipsters - Individuals who are not small business owners; Awaiting VC infusion to begin projects; Obsessed with technology, software and hardware; Usually have a degree in business/communication or graphic design; Prefer the comfort of a large modern loft with no roommates. You will usually see them dressed in designer denim with chic glasses and a modern haircut accented with *facial scruff*, a business style messenger bag which includes the most recent Macbook Air notebook. Frequently posting regarding tech, or finance related news. Refers frequently to VIP developer status or unreleased hardware access.

is when you have a great tech business idea and you make it a real business, but usually you fail (it's okay), because you're not that f*cking good businessman, or because it turned out that you had a shitty idea and you hadn't pivotted in due time, and you already spent all money.

Good startups (10%): Google, Facebook, Instagram, Dropbox, Evernote, WhatsApp, Snapchat and every other that you using on daily basis.
Bad startups (90%): There are too many to list them, and it will be better to not say them aloud (superstition)